CBRE Arranges Sale of Tampa-Area Community

Michael Regan, Francesco Carriera and Robert Kadori represented the seller and the buyer in the transaction.

Vista at Palma Sola. Image courtesy of CBRE

CBRE has brokered the sale of Vista at Palma Sola, a 340-unit multifamily community in Bradenton, Fla., just south of Tampa and St. Petersburg. Executive Vice Presidents Michael Regan and Francesco Carriera alongside Vice Chairman Robert Kadori represented the seller, identified by Yardi Matrix as Buff Management, as well as the buyer, Texas-based Hilltop Residential.

The acquisition represents Hilltop’s first foray in Florida, which the real estate investment firm plans to follow up with expansion into the Tampa, Orlando and Jacksonville markets. Vista at Palma Sola is located on 25 acres at 3900 75th St. West, five minutes away from the beach and close to Longboat Key, a beach town.

Built in 1991, the 23-building community includes one-, two- and three-bedroom apartments ranging in size from 850 to 1,250 square feet. Amenities include open kitchen floorplans, walk-in closets and exterior storage, as well as a lake, tennis courts, a dog park, pool and clubhouse. Vista at Palma Sola recently underwent renovations, resulting in updated landscaping, a remodeled clubhouse, vinyl replacement and new LED exterior lighting.

Earlier this month, CBRE brokered the sale of a senior housing community in Englewood, Fla., south of Tampa.

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